PARIS Jerome Kerviel, the former trader at the
center of the Societe Generale SA (SOGN.PA) trading scandal,
has been placed under formal investigation but the probe will
not include accusations of fraud, his lawyer said on Monday.
Kerviel's lawyer, Christian Charriere-Bournazel, said he
had been released under judicial supervision and would be
investigated for breach of trust, breaching computer security
"The judge didn't follow the prosecutor who clearly was
asking for too many things," said Charriere-Bournazel, one of
two lawyers acting for Kerviel.
His other lawyer, Elisabeth Meyer, called the judges'
decision "a great victory."
They spoke after Kerviel met the two judges charged with
investigating the case. The former trader, who has been accused
of causing 4.9 billion euros in losses at France's second
largest listed bank, left the financial court without making a
As part of the conditions for his release, Kerviel must
surrender his passport.
In France, being placed under formal investigation does not
necessarily lead to a trial and does not imply guilt.
(Reporting by Thierry Leveque and Francois Murphy; Writing
by Anna Willard and James Mackenzie, editing by Leslie Gevirtz)